Star Bulk 3Q, 9 Mo Results
Star Bulk Carriers Corp. (Nasdaq: SBLK), a global shipping company focusing on transportation of dry bulk cargoes, announced its operating results for the third quarter and nine months ended September 30, 2008. • The Company reported net income of $35.24 million for the third quarter of 2008 compared to net income of $0.94 million for the third quarter of 2007. • Voyage and time charter revenues were $65.18 million for the third quarter of 2008. This figure includes revenues of $16.89 million attributable to the amortization of the fair value of below/above market acquired time charters. • Earnings per share, basic and diluted for the third quarter of 2008 were $0.63 and $0.62, respectively.
Star Bulk Carriers Updates Ownership of Insider Holdings
Star Bulk Carriers Corp. announced that F5 Capital, a company affiliated with Mr. Nobu Su, one of the Company's directors, filed a Schedule 13D report with the Securities and Exchange Commission to disclose its disposition of approximately 9.5 million Star Bulk common shares in certain private transactions. According to the Schedule 13D, F5 Capital's beneficial ownership in the Company has been reduced to approximately 3.8 million shares, representing roughly 7% of the Company's issued and outstanding shares.
